In 2011, Chatwal sold the management rights of the 315-room hotel to Wyndham Hotel Group, which will continue to run the Dream Downtown under its existing franchise agreement after control is transferred. The deal is being made through one of Sahara India Pariwar’s subsidiaries, Aamby Valley, and if finalized the deal will leave Chatwal with only a minor stake in the property. Despite apparently backing out of the Dream Downtown, Chatwal announced he would expand across India with plans to operate 52 hotels in the country (note: correction appended).

Meanwhile, Sahara is said to be looking to invest in other high-profile Manhattan hotels, including the Four Seasons, Mandarin Oriental and Waldorf Astoria. [NYT] and [India Today] – Christopher Cameron